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Birmingham Post
Birmingham Post
Business
Jon Robinson

Revenue surges as profits almost double at newly-listed LadBible owner

Revenue surged by more than 80% as pre-tax profits almost doubled at the owner of LadBible in the year it completed a £360m IPO.

Manchester-headquartered LBG Media has reported a revenue of £54.5m for 2021, up from the £30.2m it achieved in the prior year.

The group's pre-tax profits also jumped from £4.1m to £8.1m over the same period.

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The group's brands also include UNILAD, SPORTbible, Tyla and GAMINGbible and it has offices in London, Dublin, Melbourne and Sydney.

LBG Media completed its float on AIM in December 2021.

In a statement, the group added it "continues to see significant growth opportunities" by expanding geographically organically and through acquisitions.

Chief executive Solly Solomou said: "I am delighted with the outstanding performance and significant growth that LBG Media has delivered during 2021, alongside our successful listing on the London Stock Exchange.

"The business has achieved a great deal and I want to thank each and every one of the team for their valuable contribution to its continuing success.

"Through ongoing investment in our teams, combined with our focused and relevant content, we have continued to see growth in our global audience and followers.

"Providing unmatched access to an audience that brands and organisations typically find hardest to reach makes us a particularly attractive partner to an ever increasing number of global businesses, government organisations and other entities.

"These factors position us well for the future and I am incredibly excited by the opportunities that lie ahead."

On its outlook, the group added: "At this early stage of 2022, year to date performance is in line with market expectations and the group remains on track to deliver against revenue growth expectations for the full year.

"As with prior years, revenue and EBITDA are affected by seasonality in advertising spend.

"Margins are therefore weighted to H2 given that costs are relatively flat throughout the year."

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